Glenmede Trust Co. NA maintained its stake in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,549 shares of the energy producer’s stock at the close of the 1st quarter. Glenmede Trust Co. NA’s holdings in ConocoPhillips were worth $9,252,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Advocacy Wealth Management Services LLC boosted its holdings in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after purchasing an additional 958 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares during the last quarter. Massey Quick & Co. LLC purchased a new stake in ConocoPhillips in the first quarter worth approximately $123,000. Finally, Crestwood Advisors Group LLC purchased a new stake in ConocoPhillips in the first quarter worth approximately $131,000. Institutional investors own 68.99% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Scotiabank restated a “buy” rating and issued a $52.00 target price on shares of ConocoPhillips in a report on Friday. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.03.
ConocoPhillips (NYSE:COP) traded down 1.42% during midday trading on Friday, reaching $44.47. 4,147,379 shares of the company’s stock traded hands. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The company’s market capitalization is $54.12 billion. The firm’s 50-day moving average is $44.18 and its 200-day moving average is $45.73.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period last year, the business earned ($0.79) earnings per share. Analysts forecast that ConocoPhillips will post $0.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, July 24th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.